Apple Dropping iPhone Costs in India

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Apple is offering trade-ins, credit card rebates and discounts on iPhones to make them more affordable for its Indian customers.

Students can trade-in their iPhones for $144, while non-students will be given a $130 credit, according to ZDNet. Those buying an iPhone with an American Express get a 10 percent rebate for buying an iPhone 4, 4S or 5 before June 10.

There were an estimated 2.5 million iPhones in India at the end of 2013, and an analyst said that the new discounts are likely to spur "significant growth." Not surprisingly, Apple's chief competition, Samsung, launched a 15 percent rebate in India last month.

The developing world was always going to be a challenge for the pricey Apple, a company that seems to dislike discounts or sales. However, the only way it can offer its wares to the developing world may be by offering discounts and rebates, something its competition is only too willing to do.